Revenue recognition with fixed fee projects is challenging, especially if the project spans a long period of time. Dynamics GP Fixed Fee Projects automates this process by automatically calculating the necessary transactions to properly present project activity in income statements and balance sheets. The revenue recognition process can be run for individual projects or groups of projects at a time.

You can also elect to markup expenses for overhead allowances if you want.

Here’s a sample of the Cost Category which is the most detail level for budgeting and expense tracking:

This is a nice project summary page that gives you a quick glimpse of a project and allows you to drill down to detail:

This is a quick video I created to show you the basics about accounting for fixed fee projects in Dynamics GP:

(858) 794-9403

RoseASP

RoseASP provides flexible cloud and hosting solutions on Microsoft Azure and in RoseASP’s private cloud specializing in FDA, SOX, and HIPAA cloud compliancy for heavily regulated industries. Rest assured that your data is safe in the cloud with our un-paralleled levels of security, service and support.